Zoetis Inc. (NYSE:ZTS) is Desjardins Global Asset Management Inc.’s 9th Largest Position

Desjardins Global Asset Management Inc. cut its holdings in Zoetis Inc. (NYSE:ZTS) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,703 shares of the company’s stock after selling 8,774 shares during the quarter. Zoetis comprises approximately 1.7% of Desjardins Global Asset Management Inc.’s portfolio, making the stock its 9th largest holding. Desjardins Global Asset Management Inc.’s holdings in Zoetis were worth $16,323,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Zoetis by 7.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock worth $16,308,000 after acquiring an additional 6,457 shares during the period. Peak Financial Advisors LLC purchased a new stake in Zoetis in the 4th quarter valued at approximately $2,776,000. BLB&B Advisors LLC increased its position in Zoetis by 1.9% during the 3rd quarter. BLB&B Advisors LLC now owns 60,872 shares of the company’s stock worth $10,591,000 after purchasing an additional 1,107 shares during the period. Ronald Blue Trust Inc. raised its stake in shares of Zoetis by 5.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 6,216 shares of the company’s stock worth $1,070,000 after buying an additional 317 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Zoetis by 10.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after buying an additional 17,976 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $191.43, for a total value of $176,689.89. Following the completion of the transaction, the executive vice president now directly owns 17,569 shares in the company, valued at $3,363,233.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,209 shares of company stock worth $408,453 over the last quarter. 0.12% of the stock is currently owned by insiders.

Zoetis Price Performance

NYSE:ZTS traded up $4.30 during trading hours on Tuesday, reaching $154.07. 3,240,979 shares of the company traded hands, compared to its average volume of 2,933,993. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The firm’s 50-day moving average is $179.11 and its 200-day moving average is $180.74. The stock has a market cap of $70.47 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.29 and a beta of 0.85. Zoetis Inc. has a 1-year low of $148.48 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $1.15 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts expect that Zoetis Inc. will post 5.8 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.12%. Zoetis’s dividend payout ratio (DPR) is presently 33.93%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday. Barclays upped their target price on shares of Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Stifel Nicolaus reduced their price target on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Zoetis in a report on Tuesday, December 19th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $221.75.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.